TAIPEI, Taiwan — Taiwan announced Thursday a record jump in defense spending for next year as the self-governing democracy eyes new fighter jets and anti-ship missiles to deter a Chinese military invasion.
The Executive Yuan, Taiwan’s cabinet, proposed a record 13.9 percent increase in defense spending. When including a special fund for military hardware purchases, the total will be about $19.4 billion, or 2.4 percent of projected gross domestic product. The announcement did not include details of specific expected purchases.